Mercedes finally confirm new Hamilton deal

After dragging on for months, Mercedes have finally confirmed that Lewis Hamilton has signed a new deal with the team.

The 30-year-old Briton who has won the Formula One World Championship on two occasions, has agreed a three-year contract.

The reigning 2014 Formula One title holder was set to see his contract expire with Mercedes at the end-of-the-season, which pushed the rumour mill towards an unlikely Ferrari switch the longer the protracted contract talks took to resolve.

But finally ahead of the Monaco Grand Prix, Mercedes have announced that a deal has now been finalised.

'We have taken the right amount of time with the process and not rushed ourselves. The result is a strong agreement that will enhance Lewis' association with the Mercedes-Benz brand, and that recognises and respects the market value of Lewis and of Mercedes in Formula 1. Lewis' sporting track record speaks for itself and he is a great personality for the company. Personally, I am looking forward to continuing to race with the strongest driver pairing in Formula 1 and to more historic achievements together.' Mercedes motorsport boss Toto Wolff said in a statement.

His basic salary is according to the BBC is reportedly set to be £20.9million, but could rise to around £27million-a-year depending on various performance related bonuses.

However Sky Sports have reported the value of Hamilton's deal to in the region of £100million over the course of the three-year-deal.

His new contract puts him on a par with McLaren's Fernando Alonso and Ferrari's Sebastian Vettel.

Subscribe to RSS headline updates from: Powered by FeedBurner

Join Vital F1

It's easy to join up and join in on VitalF1.com, simply click the link and enjoy getting involved!

Cookie Policy
At Vital Football, we along with most other modern websites use small files called 'cookies' to create the most secure, effective and functional website possible for our users. Without these files our business model, based on advertising, breaks down and we would be unable to continue to provide the services that you are here to utilise. By continuing to use this website after seeing this message, you consent to our use of cookies on this device unless you have disabled them. For full details please read our Cookie Policy which can be found here. However, if you would like to disable cookies on this device, please view our Cookie Policy which contains an opt-out tool for disabling advertising cookies. Please also visit our information pages on 'How to manage cookies' if you would also like to block all other types of cookies. Please be aware that parts of this site will not function correctly if you disable cookies.